Annual Report 2016 2016 Spartannash Annual Report

Annual Report 2016 2016 Spartannash Annual Report

Annual Report 2016 2016 SpartanNash Annual Report Financial Highlights Net SSaalles (in billioonsns) 53r5 ddw week impacact Maarrcch 30, 202 13 $2.$2 616 Decemembmbberr 28, 20131 $2.$22 6060 DecD embemmbber 28, 20132 $3.199 JaJJanuarary3y 3, 20153 $7.78 Januaruary 2, 20160 $7.65 Deceembmberr 31, 2016 $7.73 Addjustede Operating Earnin ngs (i( n mim lll ions) March 30, 2013 $63$633 Decembmber 28, 20131 $57 Decembm er 28, 20132 $77 January 3, 20153 $136 January 2, 2016 $141 DDecembeer 31,3131, 2016 $149 Adjuusts ed EBIBITDA (in millions) MarMarrchc 30, 202 13 $106 DecDDeeeccemberr 28,28, 200131 1 $97 DecDe ember 28,8,8 200132 $127 JanJaa uarara y 3, 20150153 $234 Janannuarua y 2, 2016010 $230 Decembbere 31,31 2001166 $231 7KH7 H DGD MXVXVXVWHGWHG ¿QDQFLDOLLD LQQIRUUPDPPDWLRQRQ SUSUHVHHVVHQWHWHGUGUHÀHHFWVFW QRQ Q***$$3$$$ ¿Q¿QDQFQFFLDODO PHDVXVXUHV33OHDOHDDVHV VHVHHHHH WKH1RQ*$$3)LQDQFLDO0HDVXUHVVHFWLRQRIWKHHQFORVHG)RUP.IRUWKHUHVSHFWLYH UHFHFRQFQFFLOLLOL DWLRQVQVV RIR WKKHHVHHVVHVH PPHHDDVDVXUHVUH ''RRROODOODUDUVLVLVVLQPQPLOOLRQRQVV H[F[ HSWHSS SHS UVVKDUK UHGHGDWD DQD GSG HUFHUUFHQWQWQ DJHDJJHJ GDDWD WD <HD<H< U(U(QGHQGQ G 3HULRG(QGHG <HDU(QGHG 525 Weeekss 39 Weeks1 51 Weeks2 53 Weeks3 52 Weeks 52 Weeks 3/3/330/20/0 0133 12/28/2013 12/28/2013 1/3/2015 1/2/2016 12/31/2016 1HW1HH VDDOHVHVV $ 7,735 *UR**U VVVVVVVSURSUR¿W¿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¶Q\\¶V¿V¿¿VFDV DO\O HDUDU HQQGIG URPP WKHOHODVW 6D6 WXUGD\LQ0DUFKWRWKH6DWXUGD\F\FORVVHVWHVW WRR 'HHFHPPEHUEHU 2 7KHFRPSDUDWLYHHXQDXGLWHGG SHUH LRG HQH GHG 'HFHPEHU LQFOXFOF XGHGHGH ZHZHHNVV DVV DD UHVVXOWX W RIR WKKHFH KDKDQJHH LQWKHWKW &RRPSPSDQ\¶\¶\V¿V¿VFDVFV O\\HDUDUD HQQGG 3 )LVFDO\O\HDUH HQGHGG G -DQXDU\ LQFOXGHXG GDG UG ZHHNRNRIRSHUS UDWLD RQVV GXG HWWRWRR KHKHH &RP&RRPSDQSSD \¶V\V¶VV ¿VFDOF FDDOHQHQQGDUG ))RURURU WKHW \HDUDUD HQGGHGHHG -DQ-D- XDUXDDU\\\WKHUGZHHNN FRQQWULEXLELEXWHGWHHG VDDOHVHVH RIR P PLOOLO LRLRQLRQRRSHUS DWLWLQJ HDUQLQJVRI PLP OOLRQ HDH UQLU QJVQJJ IURPRP FRQWLQXLQJRSHUDWLWLRQV RII PLOL OLRO RQQRU SHUHHUU GLOGLG XWHX GVG KDUKDD H DQGD DGD MXVXVVWHGHG (%%,7'7'7 $$RI PLP OOLOLLRQRQR Letter to our Shareholders Fiscal 2016 was a strong year for SpartanNash as we continued to diversify the Company in ways that will enable us to extend our success well into the future. $VZHUHÀHFWRQWKHSDVW\HDUZHDUHSOHDVHGZLWKKRZZHOOZHH[HFXWHGRQRXUVWUDWHJ\WROHYHUDJHRXU supply chain network and retail competencies to provide innovative solutions to our customers and pursue IXWXUHJURZWKRSSRUWXQLWLHV%\UHPDLQLQJQLPEOHDQGIRFXVHGRQYDOXHZHGHOLYHUHGRQRXUNH\LQLWLDWLYHVWR H[SDQGRXUKLJKTXDOLW\VHUYLFHDQGSURGXFWRIIHULQJVGULYHQHZEXVLQHVVDQGLPSURYHRSHUDWLRQDOHI¿FLHQFLHV 7KHVHHIIRUWVKHOSHGPLWLJDWHWKHLPSDFWRIWKHFKDOOHQJLQJGHÀDWLRQDU\HQYLURQPHQWDQGHQDEOHGXVWRIXO¿OOWKH expectations of our customers and business partners. Dennis Eidson &RQVLVWHQWZLWKRXUREMHFWLYHWRSXUVXHVWUDWHJLFDFTXLVLWLRQRSSRUWXQLWLHVLQZHVLJQHGDGH¿QLWLYH Chairman and DJUHHPHQWWRDFTXLUH,QGLDQDSROLVEDVHG&DLWR)RRGV6HUYLFH ³&DLWR´ DOHDGLQJVXSSOLHURIIUHVKIUXLWVDQG &KLHI([HFXWLYH2I¿FHU YHJHWDEOHVDQGYDOXHDGGHGPHDOVROXWLRQVIRUUHWDLOHUVDVZHOODV%OXH5LEERQ7UDQVSRUW ³%57´ ZKLFK SURYLGHVWHPSHUDWXUHFRQWUROOHGGLVWULEXWLRQDQGORJLVWLFVVHUYLFHVWKURXJKRXW1RUWK$PHULFD7KLVDFTXLVLWLRQZKLFKZDVFRPSOHWHGRQ -DQXDU\SURYLGHVDQRSSRUWXQLW\WRH[SDQGRXUSUHVHQFHLQVHUYLQJVRPHRIWKHLQGXVWU\¶VIDVWHVWJURZLQJFDWHJRULHVLQFOXGLQJ IUHVKSURGXFHYDOXHDGGHGIUXLWVDQGYHJHWDEOHVDQGSURWHLQEDVHGSUHSDUHGPHDOV:HDUHSOHDVHGWRZHOFRPHWKH&DLWRDQG%57 WHDPVLQWRWKH6SDUWDQ1DVKIDPLO\DQGWREHJLQVHUYLQJDQHZJURXSRIFXVWRPHUVDVZHOODVWRSURYLGHQHZRIIIHULQJVWRRXUH[LVWLQJ customers. ,QDGGLWLRQLQZHZHUHFRPSHWLWLYHO\DZDUGHGE\WKH'HIHQVH&RPPLVVDU\$JHQF\ 'H&$ WKHFRQWUDFWWREHWKHH[FOXVLYHZRUOGZLGH VXSSOLHURISULYDWHEUDQGSURGXFWVWR86PLOLWDU\FRPPLVVDULHVDQGZHZLOOEHJLQWKHUROORXWRIWKLVSURJUDPLQPLG )RUWKH\HDUFRQVROLGDWHGQHWVDOHVJUHZWRELOOLRQGHVSLWHSURORQJHGGHÀDWLRQ:HLQFUHDVHGQHWVDOHVLQRXU)RRG'LVWULEXWLRQ DQG0LOLWDU\VHJPHQWVZKHUHRXUEXVLQHVVGHYHORSPHQWHIIRUWVZHUHDEOHWRPLWLJDWHWKHQHJDWLYHLPSDFWRIIRRGGHÀDWLRQDQGDFKLHYHG IRXUFRQVHFXWLYHTXDUWHUVRILPSURYHGFRPSDUDEOHUHWDLOVWRUHVDOHVWUHQGV:HDOVRUHGXFHGVHOOLQJJHQHUDODQGDGPLQLVWUDWLYHFRVWV WKURXJKRXUVXSSO\FKDLQRSWLPL]DWLRQDQGPHUJHULQWHJUDWLRQHIIRUWVZKLFKFRPELQHGZLWKWKHLQFUHDVHLQQHWVDOHVKHOSHGJHQHUDWH HDUQLQJVIURPFRQWLQXLQJRSHUDWLRQVRISHUGLOXWHGVKDUHLQ¿VFDO$GMXVWHGHDUQLQJVIURPFRQWLQXLQJRSHUDWLRQVLPSURYHG WRSHUGLOXWHGVKDUHLQ¿VFDOUHSUHVHQWLQJDQLQFUHDVHIURPSHUGLOXWHGVKDUHLQ¿VFDO 1HWHDUQLQJVFRQWULEXWHGWRPLOOLRQLQRSHUDWLQJFDVKÀRZVHQDEOLQJXVWRSD\GRZQPLOOLRQRIORQJWHUPGHEWDQGUHWXUQ PLOOLRQWRRXUVKDUHKROGHUVLQFDVKGLYLGHQGVDQGVKDUHUHSXUFKDVHV6SDUWDQ1DVK¶V%RDUGRI'LUHFWRUVDOVRGHPRQVWUDWHGLWV FRQ¿GHQFHLQWKH&RPSDQ\¶VIXWXUHE\UDLVLQJWKHTXDUWHUO\GLYLGHQGUDWHWRSHUVKDUHLQWKH¿UVWTXDUWHURIUHSUHVHQWLQJ DLQFUHDVHDQGWKHVHYHQWKFRQVHFXWLYH\HDURITXDUWHUO\GLYLGHQGLQFUHDVHV7KHTXDUWHUO\GLYLGHQGUDWHDOVRLQFUHDVHGLQWKH ¿UVWTXDUWHURI 2XURQJRLQJHIIRUWVWRFUHDWHVKDUHKROGHUYDOXHWRJHWKHUZLWKLQFUHDVHGHDUQLQJVSRVLWLYHO\LPSDFWHGWKH&RPSDQ\¶VVWRFNSULFHZKLFK LQFUHDVHGLQ¿VFDO BUSINESS SEGMENTS 2XUVROLG¿QDQFLDOSHUIRUPDQFHDQGDELOLW\WRZLQQHZEXVLQHVVGHPRQVWUDWHWKDWRXUYLVLRQDQGVWUDWHJ\IRUWKHIXWXUHDUHZRUNLQJ In our Food Distribution segmentZHSURYLGHKLJKO\UHOHYDQWSURGXFWRIIHULQJVDQGVHUYLFHVWRKHOSRXULQGHSHQGHQWFXVWRPHUVVXFFHHGLQ DFKDOOHQJLQJRSHUDWLQJHQYLURQPHQW:HFRQWLQXHWRZRUNRQLQLWLDWLYHVWKDWEHVWSRVLWLRQRXUGLVWULEXWLRQQHWZRUNDQGRSHUDWLRQVLQFOXGLQJ VXSSO\FKDLQRSWLPL]DWLRQVKULQNUHGXFWLRQDQGSURGXFWDVVRUWPHQWH[SDQVLRQ:HDOVRFRQVROLGDWHGWZRZDUHKRXVHVGXULQJWKH\HDU ZKLFKKLJKOLJKWVRXUGHGLFDWLRQWRLPSURYLQJHI¿FLHQFLHVDFURVVRXUHQWLUHQHWZRUNDQGSURYLGLQJHQKDQFHGSURGXFWIUHVKQHVVDQGVHOHFWLRQ as well as lower costs to our customers. :LWKWKHDFTXLVLWLRQRI&DLWRDQG%57ZHKDYHLQFUHDVHGWKHVL]HDQGVFRSHRIRXUFXVWRPHUEDVHE\VWUHQJWKHQLQJRXUIUHVKSURGXFW RIIHULQJWRQHZDQGH[LVWLQJFXVWRPHUV:HKDYHDOVRVHFXUHGHQWU\LQWRWKHIDVWJURZLQJIUHVKO\SUHSDUHGUHDG\WRHDWFDWHJRU\WKURXJK &DLWR¶V)UHVK.LWFKHQIDFLOLW\LQ,QGLDQDSROLV7KHNLWFKHQZDV86'$FHUWL¿HGLQ-DQXDU\DQGZLOOEHJLQUDPSLQJXSSURGXFWLRQLQWKH ¿UVWKDOIRIWKH¿VFDO\HDU :KLOHWKHLQGHSHQGHQWIRRGGLVWULEXWLRQLQGXVWU\UHPDLQVKLJKO\FRPSHWLWLYHZHDUHHQFRXUDJHGE\RXUVDOHVSLSHOLQHWKHVWUHQJWK DQGFDSDELOLWLHVRIRXUGLVWULEXWLRQQHWZRUNDQGRXUDELOLW\WRSURYLGHLQQRYDWLYHVXSSO\FKDLQVROXWLRQVWRRXUIRRGGLVWULEXWLRQDQG retail customers. Letter to our Shareholders - continued from previous page In the Military segmentWKHH[SDQVLRQRIRXUIUHVKEXVLQHVVFRQWLQXHGWRRIIVHWWKHRQJRLQJFRPPLVVDU\VDOHVVRIWQHVVDQGGHÀDWLRQDU\ SUHVVXUHVLQWKHFRUHEXVLQHVV:HFRQWLQXHWRGHSOR\RXUGLYHUVL¿FDWLRQVWUDWHJ\VHHNLQJQHZOLQHVRIEXVLQHVVDQGZRUNLQJFORVHO\ ZLWKYHQGRUVWRSURYLGHH[SDQGHGSURGXFWDQGVHUYLFHRIIHULQJV)XUWKHUPRUHZHDUHH[FLWHGDERXWRXUSDUWQHUVKLSZLWK'H&$DQGLWV QHZLQLWLDWLYHWRRIIHUSULYDWHEUDQGSURGXFWVLQ86PLOLWDU\FRPPLVVDULHV:HH[SHFWWKHIXOOSULYDWHEUDQGUROORXWWRWDNHVHYHUDO\HDUV DQGWRKDYHDSRVLWLYHHIIHFWRQRXUFRPSHWLWLYHSRVLWLRQLQJVDOHVDQGSUR¿WV In the Retail segmentVDOHVZHUHFKDOOHQJHGE\RQJRLQJGHÀDWLRQDU\SUHVVXUHVDQGGLI¿FXOWHFRQRPLFFRQGLWLRQVSULPDULO\LQRXU1RUWK 'DNRWDUHJLRQ:HFRQWLQXHGWRLPSOHPHQWLQLWLDWLYHVWRHQKDQFHRXUPHUFKDQGLVLQJSULFLQJDQGSURPRWLRQDOVWUDWHJLHVLQRUGHUWRGULYH JUHDWHUFXVWRPHUHQJDJHPHQWDQGLPSURYHWKHRYHUDOOVKRSSLQJH[SHULHQFH:HDOVRFRQWLQXHGWRLQYHVWLQVHOHFWUHWDLOPDUNHWVDQG WRH[SDQGRXUQDWXUDORUJDQLFDQGSULYDWHEUDQGRIIHULQJVLQFOXGLQJRXUQHZIUHVKEUDQGOpen Acress.™ As part of our ongoing plan to RSWLPL]HRXU5HWDLOVWRUHEDVHZHDOVRFORVHGFHUWDLQUHWDLOVWRUHVWKDWZHUHXQGHUSHUIRUPLQJDQGGLGQRWPHHWRXUEUDQGFULWHULD 'XULQJWKH\HDUZHKHOGJUDQGUHRSHQLQJVIRUHLJKWRIRXUQHZO\UHPRGHOHGDQGUHEDQQHUHGFamily FareeVWRUHVDQGUHODXQFKHG DWRWDORIVWRUHVLQJUHDWHU2PDKD1HEUDVNDXQGHUWKH Family FareeEDQQHU$VSDUWRIWKLVLQLWLDWLYHZHLQYHVWHGLQYDOXHSURJUDPV DQGSURGXFWYDULHW\WREHWWHUDOLJQWKHVHVWRUHVZLWKWRGD\¶VFRQVXPHUH[SHFWDWLRQV:HDOVRPDGHVRXQGLQYHVWPHQWVLQVHOHFW ' :)UHVK0DUNHWWVWRUHVDQGFRQWLQXHWRVHHSRVLWLYHUHVXOWVLQUHVSRQVHWRLPSOHPHQWLQJRXUQHZSUHVHQWDWLRQDQGSULFLQJVWUDWHJLHV ZKLFKZHORRNIRUZDUGWRUHSOLFDWLQJDWRWKHUUHWDLOORFDWLRQV:HDUHFRPPLWWHGWRPDNLQJWDUJHWHGFDSLWDOLQYHVWPHQWVLQ¿VFDO by converting certain stores to the Family Fare EDQQHUDQGUHPRGHOLQJRWKHUVZKLOHDOVRFRQWLQXLQJRXUEUDQGRSWLPL]DWLRQSURJUDP WRHQVXUHH[LVWLQJVWRUHV¿WZLWKRXUIRUPDWDQGRYHUDOOEXVLQHVVVWUDWHJ\ OUTLOOK $VZHHQWHU¿VFDOZHEHOLHYH6SDUWDQ1DVKLVZHOOSRVLWLRQHGWRFRQWLQXHWROHYHUDJHLWVVWURQJEXVLQHVVPRGHOWRJURZVDOHVDQG HDUQLQJVLQ6SHFL¿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ÀRZLQIXWXUH\HDUV

View Full Text

Details

  • File Type
    pdf
  • Upload Time
    -
  • Content Languages
    English
  • Upload User
    Anonymous/Not logged-in
  • File Pages
    108 Page
  • File Size
    -

Download

Channel Download Status
Express Download Enable

Copyright

We respect the copyrights and intellectual property rights of all users. All uploaded documents are either original works of the uploader or authorized works of the rightful owners.

  • Not to be reproduced or distributed without explicit permission.
  • Not used for commercial purposes outside of approved use cases.
  • Not used to infringe on the rights of the original creators.
  • If you believe any content infringes your copyright, please contact us immediately.

Support

For help with questions, suggestions, or problems, please contact us